| A | B |
|---|
| Profit | Money that remains after a business has paid for the expenses of running the business |
| Profit Motive | A person's incentive to work to gain something for him/herself |
| Competition | Contest between businesses to win customers' business and loyalty |
| Needs | Items necessary for existence |
| Wants | Items that are not necessary to have |
| Consumer | A person who uses goods or services |
| Goods | Items businesses sell that can be measured |
| Services | Tasks that businesses perform or provide for customers |
| Sole Proprietorship | A business owned by only one person |
| Partnership | A business owned by two or more people |
